• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Ghana Eurobonds Exit Default as New Bonds Issued to Investors

1 year ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
265
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana Eurobonds Exit Default as New Bonds Issued to Investors

Ghana issued new bonds to investors in exchange for existing ones, concluding a lengthy restructuring process aimed at making its loans more sustainable under an International Monetary Fund program.

The country issued the notes on Wednesday, Barclays Plc said in a note to clients. Ghana’s Finance Ministry didn’t respond to a request for comment.

Investors received new instruments worth $9.4 billion in return for their old bonds as part of a deal that presents holders with the choice between two alternatives: so-called DISCO or PAR options, the government said earlier this week.

Those who opted for DISCO agreed a 37% reduction in value — or so-called haircut — and received two new eurobonds maturing in 2029 and 2035 that pay 5% from this year through July 2028, increasing to 6% thereafter. Those who accepted PAR received a 1.5% security due 2037, without a haircut.

All investors also got a zero-coupon bond due 2030 as payment for interest defaulted on between December 2022 to the end of 2023, and another zero-coupon security maturing in 2026 as a down-payment by the Ghanaian government.

“Yield ranges of the new curve seem broadly fair to us against a mixed fundamental outlook,” Barclays said. The country’s new securities maturing in 2029 and in the 2030s occupy an “attractive spot” in the sub-Saharan Africa CCC/B-rated bond universe, and should attract investors seeking shorter-dated carry, the London-based lender said.

RelatedPosts

Global Shipping Emissions Deal Sinks After Last-Minute Collapse

Silver Price Falls More Than 6% as Precious Metals Retreat

President Mahama to Launch $1.5bn Special Economic Zone, Expected to Create 60,000 Jobs

Ghana unilaterally suspended payments on most of its external debt almost two years ago and kicked off a debt-overhaul process to qualify for a $3 billion IMF program. The West African nation has reorganized $13 billion of eurobonds, $5.1 billion of bilateral loans and 203.4 billion cedis ($12.8 billion) of domestic debt since embarking on the exercise.

The West African nation’s deal has been hailed as one of the quickest under the Group of 20’s Common Framework, which works on the principle of comparability of treatment between sovereign lenders and bond investors. It took Zambia nearly four years to issue two series of restructured notes to investors.

Source: bloomberg
Via: norvanreports
Tags: Eurobonds Default ExitGhana Eurobonds Exit Default as New Bonds Issued to InvestorsNew Bonds

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Ghana’s Oil Revenues Under Pressure: NorvanReports Xspace to Probe Whether Petroleum Can Still Power Development

Ghana Unveils 500,000-Job Plan Through Expansion of Economic Crops

GPL: Medeama and Samartex share spoils in Tarkwa thriller as Dreams FC secure first win of the season

Premier League: Postecoglou Sacked After Forest Defeat; Arsenal Stays Top with Win at Fulham

Verstappen Clinches Pole Position for US Grand Prix in Austin

Let’s Collaborate to Exploit Full Potential of AfCFTA – Mahama to Grenada PM

Trending

Business

Global Shipping Emissions Deal Sinks After Last-Minute Collapse

October 19, 2025

Global Shipping Emissions Deal Sinks After Last-Minute Collapse A decade-long effort to make the shipping industry the...

Silver Price Falls More Than 6% as Precious Metals Retreat

October 19, 2025

President Mahama to Launch $1.5bn Special Economic Zone, Expected to Create 60,000 Jobs

October 19, 2025

Ghana’s Oil Revenues Under Pressure: NorvanReports Xspace to Probe Whether Petroleum Can Still Power Development

October 19, 2025

Ghana Unveils 500,000-Job Plan Through Expansion of Economic Crops

October 19, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.